The State Oil Fund of the Republic of Azerbaijan (SOFAZ) has increased the volume of investments in gold.

Axar.az reports that the State Oil Fund of the Republic of Azerbaijan published information about this.

It was reported that in the first quarter of 2025, gold investments accounted for $16 billion, 134.4 million (25.8%) of the fund's investment portfolio. Over the three months, SOFAZ increased its investments in gold by $3 billion, 779.8 million. Thus, at the end of last year, gold investments accounted for $12 billion, 354.6 million (20.6%) of the fund's investment portfolio.

It should be noted that SOFAZ purchased 18.7 tons of gold in the first quarter of this year. Thus, while the fund's gold reserves amounted to 146.6 tons by the end of 2024, this figure increased to 165.3 tons as of April 1 this year. In total, SOFAZ has purchased 63.5 tons of gold since the beginning of 2024.